Capital Union Offshore Limited announces the establishment of a Category 1 deposit taking subsidiary in the Abu Dhabi Global Market to service regional and international high-net-worth individuals, institutional investors, and professional intermediaries.
Nassau / Abu Dhabi, 21 August 2024
Capital Union Offshore Limited (“CUB”), a Bahamas-incorporated international wealth management bank, today announces the opening of its first international location with the launch of Capital Union Offshore (Middle East) Limited (“CUB ME”) in the Abu Dhabi Global Market (“ADGM”).
CUB ME, a wholly-owned subsidiary of CUB, holds a Category 1 deposit taking status and offers investment services under a Financial Services Permission granted by the ADGM Financial Services Regulatory Authority (“FSRA”).
CUB was founded in 2013 in Nassau, The Bahamas, by three visionary founders – Lawrence ‘Lonnie’ Howell, Clement Ducasse, and Ludovic Chechin-Laurans – who combined their expertise and networks to establish a new bank. The expansion into ADGM reflects the founders’ proactive approach to global banking trends and their unwavering commitment to delivering value to international clients.
Commenting on the opening, Patrick Zbinden, CEO of CUB said: “The launch of Capital Union Offshore (Middle East) Ltd. marks an important milestone in our international growth strategy. This positions our bank as the first international banking group incorporated and headquartered in The Bahamas and underscores our long-term commitment to the growth of The Bahamas financial center.”
